BUSINESSWOMAN OF THE YEAR HINA NAGARAJAN
Covid scare is gone, but at-home consumption of alcohol sticks
According to latest data from global alcohol market analysts IWSR, 79.2% of alcobev volume sales in India last calendar year were ‘off-premise’, or outside bars and restaurants. While this share has come down from 82.4% in 2022, it is still higher than 72.5% during the pre-pandemic year of 2019.
From party ender to party soul: Tequila now fastest-growing alcohol segment in India
Tequila, once a party staple involving a lick of salt, a shot, and a lime wedge, is evolving. It's now sipped neat, on the rocks, with soda, or in diverse cocktails, becoming India's fastest-growing alcohol segment. Sales nearly doubled to 123,000 cases in the last year and have more than tripled since 2019, driven by changing drinking habits and new product launches.
Liquor demand still dull, could pick up soon: United Spirits
"On the demand front, the growth has moderated from two years ago. And at the lower end, we continue to see some pressure. Moderation was there during the wedding season, and so growth is continuing to be slower," the company's managing director and chief executive Hina Nagarajan told analysts during an earnings call.
United Spirits Q4 Results: Net profit jumps twofold to Rs 241 crore
Diageo-controlled liquor maker United Spirits Ltd on Friday reported a two-fold increase in consolidated net profit to Rs 241 crore for the March quarter.
Meet the style disruptors at The ET Awards for Corporate Excellence 2023
Details of the fashion-forward at the awards – from the ‘250 hours’ of intricate embroidery for Leena Nair’s Chanel dress to the ties that Ajay Piramal and Shom Hinduja sported.
ET Awards 2023: Celebrating the Best Dressed trendsetters in business with style
They came, they saw, they conquered with their sartorial elegance. The style statements and fashion A-game of business leaders at The Economic Times Awards 2023 was a visual feast.
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How women are changing India's spirits consumption narrative, explains Diageo India MD Hina Nagarajan
Women are transforming the Indian spirits industry, particularly at the premium end, by accounting for 40% of the demand in the luxury segment and 64% of the new growth in single malt sales. This shift is driven by women's higher repertoire share of flavor forward and versatility requirements. Diageo has increased its focus on women consumers in India, despite the lack of safe places for women to enter liquor shops or bars.
Presenting the winners of The ET Awards for Corporate Excellence 2023
The ET Awards recognize the most innovative and best-performing companies and honour people who have raised the bar for excellence. Watch it live on March 15.
ET Awards for Corporate Excellence: Patiala peg or not, than Diageo's Hina Nagarajan for the toast India raising is premium
Under her, the company renovated Signature and Royal Challenge Whisky, launched Royal Challenge American Pride Whisky, entered Indian malt with Godawan and invested in Nao Spirits, the makers of Hapusa and Greater Than Gin. It also seeded Guinness, Diageo’s iconic beer brand, in line with the potential of the premium beer segment. These initiatives accelerated USL’s growth to double-digit levels at nearly 20%, three times higher than the historical rates of growth.
Talent code at this year's ET Awards for Corporate Excellence: I, AI & ChatIND
During a deep dive on what comprises 'conflict' in a jury - in this case, Chandra recusing himself during the discussion and voting of the Business Leader of the Year since one contender (and ultimate winner) was Titan managing director CK Venkataraman - the ever-wisecracking Uday Kotak, founder, Kotak Mahindra Bank, wondered whether the chairman should recuse himself from every vote and discussion since he "pretty much knew details about everyone in industry".
ETPWLA 2023: Soma Mondal and Hina Nagarajan win CEO of the Year category at ETPrime Women Leadership Awards
At ET Prime Women Leadership Awards (ETPWLA) 2023, Soma Mondal, Member, PESB (Public Enterprise Selection Board) and Hina Nagarajan, Managing Director and Chief Executive Officer, Diageo India, won the CEO of the Year award category.
ETPWLA 2023: Turning the spotlight on the nominees for the CEO of the Year Award
Leading up to the Grand Felicitation Ceremony of the ETPrime Women Leadership Awards (ETPWLA) 2023, the Economic Times proudly announces the shortlisted nominees for the prestigious CEO of the Year Award category. This category applauds the trend-setting and trailblazing leaders who have shattered the glass ceiling, ensured profitability, and kept their organisations agile, adaptive and resilient in an ever-evolving business landscape .
Discretionary demand on the mend in June-July; cos see full recovery in second half of fiscal year
Companies in India's discretionary consumption sectors, including electronics and retail, have reported a recovery in sales volumes since June on a year-on-year basis, which further improved in July. This could be attributed to eased inflation and a stronger manufacturing industry since April and May.
Robust top-line growth, resilient operating margins in extremely volatile, inflationary environment: USL MD Hina Nagarajan
The company, however, said the performance was strong after numbers are rebased to account for Pioneer Distilleries merger and adjusted for slump sale and franchising of the reviewed popular portfolio for a like for like comparison.
Cigarette, alcohol sales shine in inflation-hit weak FMCG market
Stability in taxes and stringent action by the government on illicit and smuggled cigarettes helped expand the size of the duty-paid cigarette market. There was no steep increase in taxes on cigarettes since July 2017. The government increased taxes in the latest budget, but the net impact of it is less than 1%.
Liquor companies seek price hike as inflation dulls spirits
In India, retail and wholesale prices of alcohol are controlled by states that account for over 65% of the overall market, making it difficult for companies to raise prices quickly.Companies said they are advocating both for immediate price increases as well as for a more fundamental restructuring of the way prices are handled for the industry.
Spirits up once again in 2022 as alcohol sales hit 4-year high
The market, especially for premium products across categories, saw a sharp recovery in 2022 after a slump during the Covid-19 pandemic. The premium portfolio now accounts for a fifth of all whisky sold in the country, gaining 500 basis points since 2018 as consumers steadily shifted to the higher priced tipple. The growth last year, however, was slower than in 2021, which saw a 15% expansion on a low base.
United Spirits Q3 Results: Profit slumps 64.4% QoQ hurt by soaring input costs
The Bengaluru-based scotch maker's revenue fell 25% to 66.12 billion rupees in the quarter, while net sales fell nearly 10% to 2.78 billion rupees.
Diageo halts some whiskey sales in India to push price hikes
Diageo’s difficulties are emblematic of a market where a high potential for growth for alcohol makers is complicated by tradition and taboo. Mahatma Gandhi wanted to rid the country of liquor and some states, such as Bihar and Gujarat, do ban alcohol. But a growing class of urbanist India drinkers, seeking out new tastes and craft beverages, are also a profitable opportunity.
Diageo invests Rs 45 crore to open its craft and innovation hub in Goa
The hub, spread across four acres, offers end-to-end capabilities addressing various requirements such as distillation capabilities for malt, gin and rum; maturation infrastructure and blending capability for spirits; an automated bottling and packaging line for craft spirits and a modern warehouse for incoming and finished products.
Indians drank more, gave liquor companies the high of a decade last year
Sales of beer and spirits grew 18% by volume on low base, and are expected to rise at a fast clip over the next five years, says IWSR report. The performance also indicates a sharp recovery for an industry that was among the worst hit by the pandemic. In 2020, the spirits market fell 20%.
United Spirits seeks single pricing policy linked to inflation
The maker of Johnnie Walker and McDowell’s said it is seeing inflationary pressure, especially on ENA driven by the geopolitical impact on grain as well as temporary supply disruptions on imported products.
Litigation made USL opt for franchising with Inbrew instead of full divestment: Diageo India CEO Hina Nagarajan
On Friday, USL sold 32 brands including Haywards, Old Tavern and White Mischief for ₹828 crore to Inbrew with a five-year franchise arrangement for 11 other brands, including Bagpiper and Blue Riband. Singapore-headquartered Inbrew also has a right to convert the fixed-term franchise arrangement into one with perpetual rights with a call option to acquire the brands at ₹1,331 crore, USL said during its earnings call on Monday.
Our mission is to be top performing consumer products firm in India: Diageo
At present the company is exploring various options, including "extension of the franchise model, selective acceleration of brands, maybe even divestment and even change of the operating model," Diageo India Managing Director & CEO Hina Nagarajan said adding it would be finalised by December.
United Spirits to bring Guinness to India
Launched in 1759, Guinness is one of world's top beer brands and USL said the launch is part of the company's wider strategy to reshape its premium portfolio and have more broad-based growth.
Demand resilient at stores, bars still a challenge: USL
“On-trade continues to be adversely impacted, both store openings and footfalls. It remained restricted and there are restrictions on capacity, on timings and the size of social gatherings around the country. So on-trade still remains subdued,” she added in her first interaction with investors after she joined the company in April.
New Diageo India MD, Hina Nagarajan, tasked with getting company back on growth path
The first woman to head the biggest liquor business in India, Nagarajan will also be rated on advocacy, convincing state governments to reduce taxation and promise higher revenues, officials said.
USL to get first woman CEO in Hina Nagarajan
“After nearly eight years at USL and seven years as managing director and CEO, Anand Kripalu will step down effective June 30, 2021, to pursue the next phase of his career,” the company said in a press statement.
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